Gold steadies as US producer prices fall and oil rises
Gold prices didn't budge much on Thursday, thanks to the US posting its biggest drop in producer prices in over a year, hinting that inflation is finally slowing down.
But things aren't all calm: tensions in the Middle East have sent oil prices climbing, raising worries about higher energy costs and possible interest rate hikes.
Spot gold stayed at $4,056.59 per ounce, while US gold futures for August ticked up 0.3%.
US strikes boost oil, metals fall
Oil's recent jump comes after US strikes on Iran's coastal defenses, with Iran warning it could halt regional energy exports over what it calls an "existential war."
Meanwhile, China's economic growth has slowed to its weakest pace in more than three years.
Other metals like silver (off 0.3% to $57.61), platinum, and palladium (both also down 0.3%) also moved lower.